PolitiQuote

Discover video-sourced quotes by politicians

Gavin Newsom: “We've got $124 trillion of generational wealth that's going…”

Featuring: Gavin Newsom, Democratic | Governor of California

Watch on YouTube

Governor Newsom highlights key investments in firefighting technology

Published | Video Starts at 59:06

Look at the Trump administrations and what this guy did with the tax system for billionaires. And now trillionaires didn't even ask for a tax cut. Got it. You know, We've got $124 trillion of generational wealth that's going to pass over the next few decades. A lot of it's going to be passing tax free. That's not what our founding fathers lived and died for. You have these lifestyle loans. (59:06–59:13)

CLAIM

Asserts that $124 trillion in generational wealth will transfer in the coming decades.

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.


Gavin Newsom

Discover more from

Gavin Newsom

Report A Transcription Error

Please report any error in the automated transcription.

About PolitiQuote

PolitiQuote is a civic library index to statements made by politicians in publicly available video records. The index is created automatically from transcripts, with no editorial oversight or analysis. Highlighted quotes are selected by AI. Words may be added in parentheses to offer context for the quote. There may be errors in the transcription and display, so listen to the video to ensure accuracy.

PolitiQuote is a service of Gigafact Foundation, a nonpartisan nonprofit advancing facts and information transparency, community by community.

Visit gigafact.org to learn more.